Monetary policy refers to:
A. policy directed toward increasing exports and reducing imports.
B. the determination of the nation's money supply.
C. government policies aimed at changing the underlying structure or institutions of the economy.
D. decisions to determine the government's budget.
Answer: B
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Without any restrictions in a perfectly competitive market, if there is a sudden rightward shift in the demand for a good:
A) sellers of the good will increase the supply of the good at the same price. B) sellers of the good will increase the quantity of the good supplied in the market. C) sellers of the good will decrease the supply of the good at the same price. D) sellers of the good will decrease the quantity supplied.
You should use the QLR test for breaks in the regression coefficients, when
A) the Chow F-test has a p value of between 0.05 and 0.10. B) the suspected break data is not known. C) there are breaks in only some, but not all, of the regression coefficients. D) the suspected break data is known.
Suppose your donut shop earns $24,000 in total revenues per month with explicit costs of $12,000 and opportunity costs of $8,000. Your accounting profit is
A) $16,000. B) $12,000. C) $4,000. D) zero.
A person is considered "employed" if and only if she:
A. wants to work. B. works full time. C. has a job that she is satisfied with. D. has a job.